Gold prices in Pakistan experienced a significant decline on Friday, as the value of 24-karat gold dropped by Rs7,100 per tola, bringing it down to Rs533,262, according to data from the All-Pakistan Gems and Jewellers Sarafa Association. This decline also affected smaller units, with the price of 24-karat gold per 10 grams decreasing by Rs6,087 to reach Rs457,186 in the local market.
The downward trend extended to 22-karat gold as well, which was recorded at Rs419,102 per 10 grams, reflecting a broader weakening in the domestic precious metals sector. Analysts attribute these fluctuations to shifts in global economic conditions, including movements in international gold markets and foreign exchange rates, which continue to influence local pricing trends.
Silver prices were also affected, with 24-karat silver decreasing to Rs8,851 per tola and Rs7,588 per 10 grams. Market observers suggest that these declines mirror global trends in commodity markets, as well as local demand and supply dynamics.
Investors and consumers are advised to monitor these developments closely, as prices can vary depending on location, market conditions, and other factors. This information is provided for general awareness and should not be considered financial advice.
Major Drop! Gold Prices in Pakistan Drops by Rs 7,100 per Tola
